Halfords has reported a 230% increase in e-bikes and e-scooters year-on-year.
The announcement was made as part of the company’s trading update for the 20-week period to 21st August, which saw cycling like-for-like revenue rise 59.1%.
There was growth across all product categories, the retailer said, with an increase of 76% in Halfords’ performance cycling business, Tredz. Sales of new products were up 114% in the period, with the new Carrera range a “notable highlight”.
The retailer has also delivered growth in cycling services, up 17.5% in the 20-week period, boosted by its free 32-point bike check and the Government’s Fix your Bike Voucher scheme.
CEO Graham Stapleton said: “We are pleased to have delivered a strong trading performance during the [COVID-19] period. We have been able to move quickly in order to capitalise on the continued strong demand for cycling products, with sales of electric bikes and scooters up 230% year-on-year, while cycling services have been boosted by our free 32-point bike check and the Government’s Fix your Bike Voucher scheme.
“It has been especially encouraging to see our investments in key strategic initiatives both drive, and enable, such a resilient performance, allowing us to capitalise on favourable market shifts. In the last 12 months, we have tripled our investment in the ongoing development of our web platform to enable a dramatic shift to online ordering, with sales up 160% year-on-year and representing 54% of total revenue in the period.
“We have also reaped the benefits in motoring services of a more scaled operation, a Group web platform, a best-in-class digital operating model in our garages and a new media campaign to raise awareness of our unique proposition. And our strategic focus on B2B channels continues to drive strong double-digit growth.
“However, there is still significant uncertainty around the impact of COVID-19 and the macro-economic environment in the coming months, and as a result, we are cautious on the outlook for the remainder of this year. Looking further ahead, we are confident in the long-term strategy of our business and in the growth prospects of the cycling and motoring markets in which we operate.”